- United States Dollar to Canadian dollar
- EUR/CAD Exchange rate
- Fundamental analysis of EUR/CAD
- Euro to Canadian Dollar Converter | Convert EUR/CAD
United States Dollar to Canadian dollar
Latest US Pres. Bears seek a daily downside extension on the break of daily lows.
The following is a top-down analysis that illustrates the bias. Momentum is bearish and the price is well below the SMA. Prior progress, 1-hour chart As illustrated, the price has since melted to the downside and bears indeed were able to capitalize on a restest of the prior support structure for a discount on the short side.
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FX Street Website. Even natural disasters can generate this coordinated response, as evidenced by the tsunami in Japan. Against this background, the Canadian dollar looks more stable and secure, since the currency is not so much dependent on economic news and is tied primarily to the commodity market.
EUR/CAD Exchange rate
Canada is a major exporter of oil, so fluctuations are tied to the price of black gold. This, in turn, determines the relationship between CAD and the Asian market, which is the largest consumer of oil and petroleum products in the world. It can only indicate the approximate boundaries of the current corridor.
But, as a rule, this corridor is too narrow for placing orders. The best time to enter the market is shortly before the release of important economic news in the eurozone, as well as before the meetings of countries that determine quotas for oil production.
Fundamental analysis of EUR/CAD
The best times to trade these instruments coincide with key economic data at , , and Eastern Standard Time of the USA, as well as from midnight to noon GMT, when European and American exchanges maintain all cross markets active. Patience during these phases of consolidation often pays off by entering a low-risk deal when support or resistance finally breaks down, giving way to a strong race or sale. To take full advantage of this simple strategy, you must be able to wait. If you enter too early, the range may hold and cause a reversal.
If you enter too late, the risk increases because the position will be executed much higher than the new support or much lower than the new resistance. Traders should consider that this pair is high-risk. There are no real ways to minimize risks.
Euro to Canadian Dollar Converter | Convert EUR/CAD
Naturally, you can set the stop loss as close to the position opened, but in this case, volatility can lead to unexpected losses. The best option is to use the pair only for reserve trading or as an indicator of general market mood.
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The instrument will not be a good choice for beginners, but experienced traders will be able to use it for tricky strategies. Sign Up.